Once again, fear of US mortgage problems has led investors back to arms of the reliable yen. A low-yield, low-risk currency, the Japanese yen has become a safe haven for skittish traders in recent weeks. Investors are right to be concerned, as the US housing market hasn’t been in this kind of shape in two decades. Reuters reports:
The yen extended gains against the dollar after a measure
of U.S. home prices reflected the biggest year-on-year decline
in the second quarter since 1987.
Read more: Yen rises as credit fears swirl
Original post by Amy Cottrell and software by Elliott Back
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